Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No. 2022-062
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD QUARTERLY REPORT 2022
Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) and all the membersof the Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurateand complete and free of any misrepresentations, misleading statements or material omissions.Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and seniormanagement of the Company hereby guarantee that the contents of this Report are true, accurate and completeand free of any misrepresentations, misleading statements or material omissions, and collectively andindividually accept legal responsibility for such contents.
2. The Company’s legal representative, Chief Financial Officer (CFO), and person-in-charge of the Company’saccounting organ (equivalent to accounting manager) hereby guarantee that the financial statements carried inthis Report are true, accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes ? No
I Key Financial Information
(I) Key Accounting Data and Financial IndicatorsIndicate whether there is any retrospectively restated datum in the table below.?Yes □ NoReason for any retrospectively adjustment or restatementBusiness Combination under the same control
| Q3 2022 | Q3 2021 | YoY change (%) | Q1-Q3 2022 | Q1-Q3 2021 | YoY change (%) | |||
| Before | Restated | Restated | Before | Restated | Restated | |||
| Operating revenue (RMB) | 2,061,412,360.91 | 1,291,797,822.97 | 2,388,802,042.86 | -13.71% | 6,409,681,360.22 | 3,247,139,939.17 | 6,015,002,303.03 | 6.56% |
| Net profit | 60,088,02 | 81,457,73 | 95,032,08 | -36.77% | 220,752,4 | 192,013,2 | 217,409,6 | 1.54% |
| attributable to the listed company’s shareholders (RMB) | 6.76 | 5.74 | 4.70 | 60.04 | 78.67 | 37.30 | ||
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 64,167,908.29 | 49,859,285.46 | 45,186,737.03 | 42.01% | 225,030,432.47 | 148,809,792.97 | 136,375,103.10 | 65.01% |
| Net cash generated from/used in operating activities (RMB) | - | - | - | - | 544,288,075.20 | -53,586,119.35 | 439,002,014.50 | 23.98% |
| Basic earnings per share (RMB/share) | 0.0445 | 0.0604 | 0.0704 | -36.79% | 0.1636 | 0.1423 | 0.1612 | 1.49% |
| Diluted earnings per share (RMB/share) | 0.0441 | 0.0598 | 0.0698 | -36.82% | 0.1621 | 0.1410 | 0.1596 | 1.57% |
| Weighted average return on equity (%) | 1.20% | 1.34% | 1.32% | -0.12% | 3.88% | 3.16% | 3.01% | 0.88% |
| 30 September 2022 | 31 December 2021 | YoY change (%) | ||||||
| Before | Restated | Restated | ||||||
| Total assets (RMB) | 14,290,151,975.79 | 9,699,592,528.61 | 16,317,843,693.47 | -12.43% | ||||
| Equity attributable to the listed company’s shareholders (RMB) | 5,182,871,248.29 | 5,800,558,588.34 | 6,986,502,976.72 | -25.82% | ||||
Note: The Company has completed in February 2022 the major asset restructuring involving the acquisition of a
21.32% stake held by Rising Group and its acting-in-concert parties in NationStar Optoelectronics. NationStarOptoelectronics has been included in the Company’s consolidated financial statements since 2022, withretrospective adjustments to relevant financial statement data of the same period of last year and the end of lastyear.(II) Exceptional Gains and Losses? Applicable □ Not applicable
Unit: RMB
| Item | Q3 2022 | Q1-Q3 2022 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 1,127,472.19 | -4,595,893.18 |
| Government grants through profit or loss (exclusive of government grants given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards) | 16,162,559.15 | 47,741,537.68 | |
| Capital occupation charges on non-financial enterprises that are recognized in profit or loss | 84,351.00 | 297,393.31 | |
| Current gains and losses on subsidiaries acquired through business mergers under same control from period-beginning to merger dates, net | 9,568,639.83 | ||
| Gain or loss on fair-value changes on held-for-trading financial assets and liabilities & income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | -11,431,303.36 | -20,429,161.45 | |
| Non-operating income and expense other than the above | 1,121,536.84 | 7,165,844.61 | |
| Less: Income tax effects | 665,339.46 | 4,676,240.73 | |
| Non-controlling interests effects (net of tax) | 10,479,157.89 | 39,350,092.50 | |
| Total | -4,079,881.53 | -4,277,972.43 | -- |
Other items that meet the definition of exceptional gain/loss:
□Applicable ? Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Gain/Loss Items:
□Applicable ? Not applicable
No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why? Applicable □ Not applicable
Unit: RMB
| Item | Q1~Q3 2022/ 30 September 2022 | Q1~Q3 2021/ 1 January 2022 | Change (%) | Explanation of why |
| Held-for-trading financial assets | 31,183,899.15 | 348,248,125.61 | -91.05% | Redemption of wealth management products upon maturity in the current period |
| Prepayments | 57,740,128.94 | 33,474,104.32 | 72.49% | Increased prepayments to suppliers in the current period |
| Contract assets | 5,668,421.11 | 8,561,303.10 | -33.79% | Recovery of accounts in the current period |
| Other current assets | 59,527,381.88 | 125,675,148.17 | -52.63% | Decrease in input VAT withheld for authentication and offsetting output VAT in the current period |
| Investments in other equity instruments | 868,654,629.65 | 1,504,980,024.07 | -42.28% | Changes in the fair value of investments in other equity instruments in the current period |
| Long-term prepaid expense | 198,830,364.03 | 152,726,512.56 | 30.19% | Increased molds for new products in the current period |
| Other non-current assets | 108,367,942.61 | 499,349,770.41 | -78.30% | The combination of NationStar Optoelectronics, which was under common control with the Company, was completed in the current period, and the prepayment for equity transfer made in the same period of last year was carried forward. |
| Short-term borrowings | 100,115,000.00 | 226,779,997.01 | -55.85% | Repayment of some short-term borrowings in the current period |
| Held-for-trading financial liabilities | 11,207,000.00 | 9,367.37 | 119538.70% | Changes in the fair value of forward forex settlement contracts as a result of currency fluctuations |
| Advances from customers | 3,669,227.73 | 8,106,923.79 | -54.74% | Decrease in advances of rentals |
| Other current liabilities | 7,066,719.06 | 10,577,082.29 | -33.19% | Decreased to-be-confirmed output tax in the current period |
| Long-term borrowings | 582,680,803.81 | - | N/A | New long-term borrowings in the current period |
| Other non-current liabilities | 12,731.24 | 22,653.46 | -43.80% | Decreased liabilities of subsidiary to be liquidated and de-registered |
Capital reserves
| Capital reserves | 7,245,971.54 | 994,114,567.16 | -99.27% | Combination of NationStar Optoelectronics under common control in the current period |
| Treasury stock | 82,165,144.15 | 250,600,874.54 | -67.21% | Retirement of inventory shares in the current period |
| Other comprehensive income | 502,927,614.92 | 982,972,358.89 | -48.84% | Sale of some shares held in Gotion High-tech and Xiamen Bank and changes in the fair value of shares held in other listed companies in the current period |
| Surplus reserves | 86,780,516.19 | 741,353,347.96 | -88.29% | Combination of NationStar Optoelectronics under common control and retirement of inventory shares in the current period, resulting in a charge to surplus reserves |
| R&D expense | 324,063,907.56 | 231,899,315.47 | 39.74% | Acquisition of subsidiary Nanning Liaowang not under common control in Q3 2021, and increased R&D investments in the current period with the expanded R&D team and more R&D projects |
| Finance costs | -34,299,371.69 | -5,923,088.86 | -479.08% | Depreciation of RMB in the current period |
| Interest expense | 12,397,846.58 | 6,480,947.49 | 91.30% | Increased interest on borrowings in the current period |
| Return on investment | 13,670,258.81 | 32,722,357.86 | -58.22% | Increased dividend income from investments in other equity instruments and gains on forward forex settlement contracts in the current period |
| Share of profit or loss of joint ventures and associates | 985,142.24 | 78,184.56 | 1160.02% | Increase in net profits of associates attributable to owners of the Company as the parent in the current period |
| Gain on changes in fair value | -15,847,302.07 | 2,590,690.77 | -711.70% | Changes in the fair value of forward forex settlement contracts as a result of the depreciation of RMB |
| Credit impairment loss (“-” for loss) | -13,144,044.00 | -9,463,251.76 | -38.90% | Increased allowance for expected credit loss in the current period |
| Asset impairment loss (“-” for loss) | -46,002,651.36 | -33,834,014.12 | -35.97% | Increased inventory valuation allowances in the current period |
| Asset disposal income | 283,064.85 | 36,004,773.16 | -99.21% | More assets were disposed of and liquidized in the same period of last year |
| Non-operating income | 10,534,667.78 | 7,593,542.49 | 38.73% | Carryforwards of payables of subsidiary NationStar Optoelectronics that it does not need to pay in the current period |
| Non-operating expense | 7,371,647.57 | 4,088,530.59 | 80.30% | Increase in losses on the retirement of fixed assets in the current period |
Net profit attributableto non-controllinginterests
| Net profit attributable to non-controlling interests | 101,280,191.23 | 146,732,042.37 | -30.98% | Decreased profits of non-wholly-owned subsidiaries in the current period |
| Differences arising from the translation of foreign currency-denominated financial statements | 658,235.31 | 142,181.49 | 362.95% | Increased differences arising from the translation of the foreign currency-denominated financial statements of Indonesia Liaowang |
| Other comprehensive income, net of tax attributable to non-controlling interests | 378,520.91 | 209,523.04 | 80.66% | Increased other comprehensive income of non-wholly-owned subsidiaries in the current period |
| Total comprehensive income | -56,716,347.59 | 61,876,567.35 | -191.66% | Decreased amount of changes in the fair value of investments in other equity instruments in the current period |
| Total comprehensive income attributable to owners of the Company as the parent | -158,375,059.73 | -85,064,998.06 | -86.18% | Decreased amount of changes in the fair value of investments in other equity instruments in the current period |
| Total comprehensive income attributable to non-controlling interests | 101,658,712.14 | 146,941,565.41 | -30.82% | Decreased profits of non-wholly-owned subsidiaries in the current period |
| Net cash generated from/used in operating activities | 544,288,075.20 | 439,002,014.50 | 23.98% | Increased tax and levy rebates received in the current period |
| Net cash generated from/used in investing activities | -56,689,738.38 | 973,514,806.12 | -105.82% | More cash generated from investing activities in the same period of last year as a result of the sale of the Gotion High-tech shares |
| Net cash generated from/used in financing activities | -828,830,856.22 | -547,952,912.03 | -51.26% | Payment for the acquisition of equity interests in subsidiary NationStar Optoelectronics under common control, and increased cash used in other financing activities in the current period |
| Net increase in cash and cash equivalents | -304,740,429.41 | 825,403,569.91 | -136.92% | Decreased net cash generated from financing activities in the current period |
II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 62,656 | Number of preference shareholders with resumed voting rights (if any) | 0 | |||
| Top 10 shareholders | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares held | Shares in pledge, marked or frozen | |
| Status | Shares | |||||
| Hong Kong Wah Shing Holding Company Limited | Foreign corporation | 13.84% | 188,496,430 | In pledge | 92,363,251 | |
| Prosperity Lamps & Components Limited | Foreign corporation | 10.79% | 146,934,857 | |||
| Guangdong Electronics Information Industry Group Ltd. | State-owned corporation | 9.01% | 122,694,246 | In pledge | 32,532,815 | |
| Guangdong Rising Holdings Group Co., Ltd. | State-owned corporation | 6.10% | 83,130,898 | |||
| Essence International Securities (Hong Kong) Limited | Foreign corporation | 2.65% | 36,138,459 | |||
| Central Huijin Asset Management Co., Ltd. | State-owned corporation | 2.43% | 33,161,800 | |||
| Rising Investment Development Limited | Foreign corporation | 1.87% | 25,482,252 | |||
| China Construction Bank Co., Ltd.-GF Sci-tech Innovation Mixed Securities Investment Fund | Other | 1.75% | 23,866,078 | |||
| China Merchants Securities (HK) Co., Limited | Foreign corporation | 1.06% | 14,479,007 | |||
| Zhuang Jianyi | Foreign individual | 0.87% | 11,903,509 | 8,927,632 | ||
| Top 10 unrestricted shareholders | ||||||
| Name of shareholder | Unrestricted ordinary shares held | Shares by class | ||||
| Class | Shares | |||||
| Hong Kong Wah Shing Holding Company Limited | 188,496,430 | RMB-denominated ordinary share | 188,496,430 | |||
| Prosperity Lamps & Components Limited | 146,934,857 | RMB-denominated ordinary share | 146,934,857 | |||
| Guangdong Electronics Information Industry Group Ltd. | 122,694,246 | RMB-denominated ordinary share | 122,694,246 | |||
| Guangdong Rising Holdings Group Co., Ltd. | 83,130,898 | RMB-denominated ordinary share | 83,130,898 | |||
| Essence International Securities (Hong Kong) Limited | 36,138,459 | Domestically listed foreign share | 36,138,459 | |||
| Central Huijin Asset Management Co., Ltd. | 33,161,800 | RMB-denominated ordinary share | 33,161,800 | |||
| Rising Investment Development Limited | 25,482,252 | Domestically listed foreign share | 25,482,252 | |||
| China Construction Bank Co., Ltd.-GF Sci-tech Innovation Mixed Securities Investment Fund | 23,866,078 | RMB-denominated ordinary share | 23,866,078 | |||
| China Merchants Securities (HK) Co., Limited | 14,479,007 | Domestically listed foreign share | 14,479,007 | |
| Zhang Shaowu | 9,600,050 | RMB-denominated ordinary share | 9,600,050 | |
| Related or acting-in-concert parties among the shareholders above | Among the top 10 shareholders, Hong Kong Wah Shing Holding Company Limited, Guangdong Electronics Information Industry Group Ltd., Guangdong Rising Holdings Group Co., Ltd. and Rising Investment Development Limited are acting-in-concert parties; Prosperity Lamps & Components Limited and Zhuang Jianyi are acting-in-concert parties. Apart from that, it is unknown whether there is among the top 10 shareholders any other related parties or acting-in-concert parties as defined in the Administrative Measures for the Acquisition of Listed Companies. | |||
| Top 10 shareholders involved in securities margin trading (if any) | None | |||
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable ? Not applicable
III Other Significant Events? Applicable □ Not applicable
1. Retirement of repurchased shares
The Company held the 26th Meeting of the Ninth Board of Directors on 14 January 2022, where the Proposalon Retirement of Some Shares in the Company's Repurchase Special Securities Account was deliberated andapproved. The Board of Directors agreed to use the repurchased 13 million A shares for the equity incentiveplan. After deducting the 13 million A shares used for the equity incentive plan, the remaining 18,952,995repurchased A shares and 18,398,512 repurchased B shares would be retired, totaling 37,351,507 shares. On 8February 2022, the above-mentioned shares were retired, and the total share capital of the Company waschanged from 1,399,346,154 shares to 1,361,994,647 shares.
2. Expropriation of land and above-ground housing of Nanjing Fozhao
The Company held the 24th Meeting of the Ninth Board of Directors on 15 December 2021, where the Proposalon Expropriation of Land and Above-ground Housing of the Wholly-owned Subsidiary Nanjing FozhaoLighting Equipment Manufacturing Co., Ltd., was deliberated and adopted. The Board of Directors agreed thatNanjing Lishui District People's Government expropriates the land use rights and above-land housing of
Nanjing Fozhao Lighting Equipment Manufacturing Co., Ltd. (hereinafter referred to as "Nanjing Fozhao"), awholly-owned subsidiary of the Company, at a compensation amount of RMB183,855,895, and Nanjing Fozhaosigned an expropriation and compensation agreement with Lishui County House Dismantling, Moving &Resettling Development Co., Ltd., the implementing unit of the housing expropriation. As of 30 September2022, Nanjing Fozhao has received 30% of the compensation, that is, RMB55,160,000.00, and the land useright certificate and house ownership certificate of the assets involved have been cancelled. As of the date ofthis report, the site handover is still in progress. After the demolition is completed, Nanjing Fozhao will beliquidated and de-registered.
3. Cancellation of FSL LIGHTING GmbH
On 22 October 2021, the Company held an office meeting of the general manager, where the proposal forcancellation of its wholly-owned subsidiary FSL LIGHTING GmbH was deliberated and adopted. As of the endof the Reporting Period, FSL LIGHTING GmbH is handling the relevant procedures for liquidation andcancellation.
4. Acquisition of NationStar and Sigma
The Company has completed in February 2022 the major asset restructuring involving the acquisition of a 21.32%stake held by Rising Group and its acting-in-concert parties in NationStar Optoelectronics. Upon the acquisition,the Company eventually holds a 21.48% interest in NationStar. NationStar and Sigma have become majority-owned subsidiaries of the Company.IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2022
Unit: RMB
| Item | 30 September 2022 | 1 January 2022 |
| Current assets: | ||
| Monetary assets | 2,137,285,739.59 | 2,381,911,655.35 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 31,183,899.15 | 348,248,125.61 |
| Derivative financial assets | ||
| Notes receivable | 1,347,357,948.72 | 1,690,356,491.64 |
| Accounts receivable | 2,001,063,395.18 | 1,981,538,844.26 |
| Receivables financing | ||
| Prepayments | 57,740,128.94 | 33,474,104.32 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 35,814,995.83 | 37,523,072.02 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 1,862,256,439.75 | 1,969,998,988.39 |
| Contract assets | 5,668,421.11 | 8,561,303.10 |
| Assets held for sale | 17,147,339.84 | 23,831,992.10 |
| Current portion of non-current assets | ||
| Other current assets | 59,527,381.88 | 125,675,148.17 |
| Total current assets | 7,555,045,689.99 | 8,601,119,724.96 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 180,449,874.83 | 181,545,123.09 |
| Investments in other equity instruments | 868,654,629.65 | 1,504,980,024.07 |
| Other non-current financial assets | ||
| Investment property | 41,573,970.88 | 43,347,824.34 |
| Fixed assets | 3,371,888,539.55 | 3,360,339,910.95 |
| Construction in progress | 1,091,421,373.62 | 1,087,261,052.63 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 10,530,447.88 | 14,126,206.08 |
| Intangible assets | 362,449,642.62 | 368,954,162.34 |
| Development costs | ||
| Goodwill | 421,831,593.46 | 421,831,593.46 |
| Long-term prepaid expense | 198,830,364.03 | 152,726,512.56 |
| Deferred income tax assets | 79,107,906.67 | 82,261,788.58 |
| Other non-current assets | 108,367,942.61 | 499,349,770.41 |
| Total non-current assets | 6,735,106,285.80 | 7,716,723,968.51 |
| Total assets | 14,290,151,975.79 | 16,317,843,693.47 |
| Current liabilities: | ||
| Short-term borrowings | 100,115,000.00 | 226,779,997.01 |
| Borrowings from the central bank | ||
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | 11,207,000.00 | 9,367.37 |
| Derivative financial liabilities | ||
| Notes payable | 1,717,566,146.98 | 2,067,111,789.71 |
| Accounts payable | 2,188,080,664.24 | 2,429,896,658.92 |
| Advances from customers | 3,669,227.73 | 8,106,923.79 |
| Contract liabilities | 157,588,269.86 | 140,228,127.84 |
| Financial assets sold under repurchase |
| agreements | ||
| Customer deposits and deposits from other banks and financial institutions | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Employee benefits payable | 152,420,891.65 | 167,784,089.64 |
| Taxes and levies payable | 69,839,659.98 | 90,981,474.60 |
| Other payables | 287,395,726.21 | 333,128,771.81 |
| Including: Interest payable | ||
| Dividends payable | 15,646.07 | 15,646.07 |
| Fees and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | 24,512,143.42 | 27,600,186.15 |
| Other current liabilities | 7,066,719.06 | 10,577,082.29 |
| Total current liabilities | 4,719,461,449.13 | 5,502,204,469.13 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 582,680,803.81 | |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 6,693,924.84 | 8,065,560.58 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | 12,421,658.34 | 17,418,343.01 |
| Deferred income | 99,249,024.50 | 116,761,570.35 |
| Deferred income tax liabilities | 209,430,869.21 | 280,172,789.59 |
| Other non-current liabilities | 12,731.24 | 22,653.46 |
| Total non-current liabilities | 910,489,011.94 | 422,440,916.99 |
| Total liabilities | 5,629,950,461.07 | 5,924,645,386.12 |
| Owners’ equity: | ||
| Share capital | 1,361,994,647.00 | 1,399,346,154.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserves | 7,245,971.54 | 994,114,567.16 |
| Less: Treasury stock | 82,165,144.15 | 250,600,874.54 |
| Other comprehensive income | 502,927,614.92 | 982,972,358.89 |
| Specific reserve | ||
| Surplus reserves | 86,780,516.19 | 741,353,347.96 |
| General reserve | ||
| Retained earnings | 3,306,087,642.79 | 3,119,317,423.25 |
| Total equity attributable to owners of the Company as the parent | 5,182,871,248.29 | 6,986,502,976.72 |
| Non-controlling interests | 3,477,330,266.43 | 3,406,695,330.63 |
| Total owners’ equity | 8,660,201,514.72 | 10,393,198,307.35 |
| Total liabilities and owners’ equity | 14,290,151,975.79 | 16,317,843,693.47 |
Legal representative: Wu Shenghui Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2022 | Q1~Q3 2021 |
| 1. Revenues | 6,409,681,360.22 | 6,015,002,303.03 |
| Including: Operating revenue | 6,409,681,360.22 | 6,015,002,303.03 |
| Interest income | ||
| Insurance premium income | ||
| Fee and commission income | ||
| 2. Costs and expenses | 6,036,293,919.57 | 5,670,808,399.34 |
| Including: Cost of sales | 5,268,102,558.49 | 5,032,048,114.15 |
| Interest expense | ||
| Fee and commission expense | ||
| Surrenders | ||
| Net insurance claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and levies | 39,068,966.75 | 48,389,387.74 |
| Selling expense | 160,803,077.83 | 143,631,792.54 |
| Administrative expense | 278,554,780.63 | 220,762,878.30 |
| R&D expense | 324,063,907.56 | 231,899,315.47 |
| Finance costs | -34,299,371.69 | -5,923,088.86 |
| Including: Interest expense | 12,397,846.58 | 6,480,947.49 |
| Interest income | 19,062,005.88 | 18,021,856.39 |
| Add: Other income | 54,824,426.95 | 46,893,761.05 |
| Return on investment (“-” for loss) | 13,670,258.81 | 32,722,357.86 |
| Including: Share of profit or loss of joint ventures and associates | 985,142.24 | 78,184.56 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | ||
| Exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | -15,847,302.07 | 2,590,690.77 |
| Credit impairment loss (“-” for loss) | -13,144,044.00 | -9,463,251.76 |
| Asset impairment loss (“-” for loss) | -46,002,651.36 | -33,834,014.12 |
| Asset disposal income (“-” for loss) | 283,064.85 | 36,004,773.16 |
| 3. Operating profit (“-” for loss) | 367,171,193.83 | 419,108,220.65 |
| Add: Non-operating income | 10,534,667.78 | 7,593,542.49 |
| Less: Non-operating expense | 7,371,647.57 | 4,088,530.59 |
| 4. Gross profit (“-” for loss) | 370,334,214.04 | 422,613,232.55 |
| Less: Income tax expense | 48,301,562.77 | 58,471,552.88 |
| 5. Net profit (“-” for net loss) | 322,032,651.27 | 364,141,679.67 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 322,032,651.27 | 364,141,679.67 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to shareholders of the Company as the parent (“-” for net loss) | 220,752,460.04 | 217,409,637.30 |
| 5.2.1 Net profit attributable to non-controlling interests (“-” for net loss) | 101,280,191.23 | 146,732,042.37 |
| 6. Other comprehensive income, net of tax | -378,748,998.86 | -302,265,112.32 |
| Attributable to owners of the Company as the parent | -379,127,519.77 | -302,474,635.36 |
| 6.1 Items that will not be reclassified to profit or loss | -379,785,755.08 | -302,616,816.85 |
| 6.1.1 Changes caused by remeasurements on defined benefit schemes | ||
| 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | -379,785,755.08 | -302,616,816.85 |
| 6.1.4 Changes in the fair value arising from changes in own credit risk | ||
| 6.1.5 Other | ||
| 6.2 Items that will be reclassified to profit or loss | 658,235.31 | 142,181.49 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of other debt investments | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.4 Credit impairment allowance for other debt investments | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | 658,235.31 | 142,181.49 |
| 6.2.7 Other | ||
| Attributable to non-controlling interests | 378,520.91 | 209,523.04 |
| 7. Total comprehensive income | -56,716,347.59 | 61,876,567.35 |
| 7.1 Attributable to owners of the Company as the parent | -158,375,059.73 | -85,064,998.06 |
| 7.2 Attributable to non-controlling interests | 101,658,712.14 | 146,941,565.41 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.1636 | 0.1612 |
| 8.2 Diluted earnings per share | 0.1621 | 0.1596 |
Where business combinations under common control occurred in the current period, the net profit achieved bythe acquirees before the combinations was RMB9,568,639.83, with the amount for the same period of last yearbeing RMB176,355,795.71.Legal representative: Wu Shenghui Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2022 | Q1~Q3 2021 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 6,056,724,574.00 | 6,040,186,380.96 |
| Net increase in customer deposits and deposits from other banks and financial institutions |
| Net increase in borrowings from the central bank | ||
| Net increase in loans from other financial institutions | ||
| Premiums received on original insurance contracts | ||
| Net proceeds from reinsurance | ||
| Net increase in deposits and investments of policy holders | ||
| Interest, fees and commissions received | ||
| Net increase in loans from other banks and financial institutions | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax and levy rebates | 185,461,999.13 | 114,057,312.91 |
| Cash generated from other operating activities | 159,499,633.65 | 218,679,801.88 |
| Subtotal of cash generated from operating activities | 6,401,686,206.78 | 6,372,923,495.75 |
| Payments for commodities and services | 4,329,686,928.50 | 4,387,640,953.37 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and other banks and financial institutions | ||
| Payments for claims on original insurance contracts | ||
| Net increase in loans to other banks and financial institutions | ||
| Interest, fees and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 1,016,973,760.65 | 945,074,849.27 |
| Taxes and levies paid | 261,864,524.95 | 260,893,091.09 |
| Cash used in other operating activities | 248,872,917.48 | 340,312,587.52 |
| Subtotal of cash used in operating activities | 5,857,398,131.58 | 5,933,921,481.25 |
| Net cash generated from/used in operating activities | 544,288,075.20 | 439,002,014.50 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 534,902,240.66 | 690,576,144.98 |
| Return on investment | 15,331,293.58 | 1,028,502,794.21 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 1,524,973.60 | 10,764,267.40 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 551,758,507.84 | 1,729,843,206.59 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 482,988,582.91 | 430,741,889.34 |
| Payments for investments | 125,459,663.31 | 325,586,511.13 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 608,448,246.22 | 756,328,400.47 |
| Net cash generated from/used in investing activities | -56,689,738.38 | 973,514,806.12 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings received | 724,436,000.00 | |
| Cash generated from other financing activities | 5,506,572.70 | 47,330,746.17 |
| Subtotal of cash generated from financing activities | 729,942,572.70 | 47,330,746.17 |
| Repayment of borrowings | 315,366,200.00 | 147,457,301.21 |
| Interest and dividends paid | 162,323,579.94 | 176,704,640.21 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 24,282,863.70 | 29,204,491.92 |
| Cash used in other financing activities | 1,081,083,648.98 | 271,121,716.78 |
| Subtotal of cash used in financing activities | 1,558,773,428.92 | 595,283,658.20 |
| Net cash generated from/used in financing activities | -828,830,856.22 | -547,952,912.03 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 36,492,089.99 | -39,160,338.68 |
| 5. Net increase in cash and cash equivalents | -304,740,429.41 | 825,403,569.91 |
| Add: Cash and cash equivalents, beginning of the period | 1,886,894,463.37 | 1,401,525,288.07 |
| 6. Cash and cash equivalents, end of the period | 1,582,154,033.96 | 2,226,928,857.98 |
Legal representative: Wu Shenghui Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei(II) Independent Auditor’s ReportIndicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes ? No
These financial statements have not been audited by such an auditor.
Foshan Electrical and Lighting Co., Ltd.Legal representative: Wu Shenghui
27 October 2022